Mixed-Use Investment
For Sale
$260,000
12201222 Parsons, Columbus, OH 43206
Mixed-use building with street-level retail and two residential units for a court-appointed receiver sale.
Property Size2,628 SF
Price / SF$98.93
Days on Market112
Property Features for 12201222 Parsons
General Information
Standard status
Active
Size
2,628 SF
Property subtype
General Commercial
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,174
Amenities
3
Building Details
Year Built
1920
Listing Agency:
(513) 841-7000
Listed By:
Prodigy Properties
(513) 841-7000
Source:
Xome
Added: Apr 20
Changed: Aug 8
Last Checked: Aug 9 at 5:19AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Prodigy Properties
Investment Insights
Based on property information with market context.
This mixed-use investment property includes three total units: one street-level retail space, one 2-bedroom / 1-bath apartment, and one 1-bedroom / 1-bath apartment. The offering is being sold as a court-appointed receiver sale.
The property is located in close proximity to Nationwide Children’s Hospital and provides convenient access to Downtown Columbus and German Village. It is also positioned for access to major highway corridors including I-70 and I-71.
As presented, the building’s unit mix offers both retail and residential rental opportunities within a single structure.
The property is located in close proximity to Nationwide Children’s Hospital and provides convenient access to Downtown Columbus and German Village. It is also positioned for access to major highway corridors including I-70 and I-71.
As presented, the building’s unit mix offers both retail and residential rental opportunities within a single structure.
Key Highlights
- Mixed‑use building for a court‑appointed receiver sale at 1220‑1222 Parsons Ave
- Building includes one street‑level retail space plus two apartment units
- Residential unit mix: one 2‑bedroom, 1‑bath unit and one 1‑bedroom, 1‑bath unit
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$22,378
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.61%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$447,560
$447.6K
Cap Rate 7%
$319,686
$319.7K
Cap Rate 9%
$248,644
$248.6K
Market Conditions
NOI Build-Up for 2,628 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$34.4K $13.08/SF
− Vacancy
−$2.4K −$0.92/SF
EGI
$32.0K $12.16/SF
− OpEx
−$9.6K −$3.65/SF
NOI
$22.4K $8.52/SF
Area
Columbus, OH
Vacancy
7.00%
Lease Rate
$13.08 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$447,560
Cap Rate 7%
$319,686
Cap Rate 9%
$248,644
Alternative Uses
Best Use
Retail
$432.8K
$378.7K – $505.0K
NOI $30,298 @ 7.0% cap · market cap 11.65%
Second Best
Mixed Use
$430.8K
$377.0K – $502.6K
NOI $30,156 @ 7.0% cap · market cap 11.60%
Theoretical Best
Office A
$547.7K
$479.2K – $639.0K
NOI $38,338 @ 7.0% cap · market cap 14.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
16
Businesses Nearby
Explore this area
Business Placement
Demographics for 43206, OH
21,594
Population
12,758
Households
1.7
Avg Household Size
35
Median Age
48%
College-Educated
94%
High-School Grad
3.0 sq mi
ZIP Area
7,198
Density / Sq Mi
$74,421
Median Household Income
$52,603
Median Earnings
$1,339
Median Rent
$280,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use building with street-level retail and two residential units for a court-appointed receiver sale.
Where is this mixed-use property located?
The property is located at 12201222 Parsons Columbus, OH.
What is the asking price?
The asking price for this property is $260,000.
What are key features of this property?
This property features: Mixed‑use building for a court‑appointed receiver sale at 1220‑1222 Parsons Ave; Building includes one street‑level retail space plus two apartment units; Residential unit mix: one 2‑bedroom, 1‑bath unit and one 1‑bedroom, 1‑bath unit
